Commerce Bancshares, Inc. (NASDAQ:CBSH) Receives $52.60 Average Price Target from Brokerages

Shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) have received a consensus recommendation of “Hold” from the four analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $52.60.

Several research firms have commented on CBSH. Piper Sandler dropped their target price on Commerce Bancshares from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. Wells Fargo & Company cut their target price on shares of Commerce Bancshares from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, October 20th. Jefferies Financial Group upped their price target on shares of Commerce Bancshares from $51.00 to $52.00 in a research report on Tuesday, October 10th. StockNews.com began coverage on shares of Commerce Bancshares in a report on Thursday, October 5th. They set a “sell” rating on the stock. Finally, Morgan Stanley upgraded Commerce Bancshares from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $48.00 to $49.00 in a report on Wednesday, September 27th.

Insiders Place Their Bets

In other Commerce Bancshares news, Director Blackford F. Brauer bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average price of $49.14 per share, for a total transaction of $245,700.00. Following the transaction, the director now directly owns 28,426 shares in the company, valued at $1,396,853.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Paula S. Petersen sold 2,068 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $46.61, for a total transaction of $96,389.48. Following the transaction, the senior vice president now owns 29,984 shares in the company, valued at $1,397,554.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blackford F. Brauer bought 5,000 shares of Commerce Bancshares stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $49.14 per share, with a total value of $245,700.00. Following the completion of the purchase, the director now owns 28,426 shares in the company, valued at $1,396,853.64. The disclosure for this purchase can be found here. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBSH. First Republic Investment Management Inc. lifted its holdings in shares of Commerce Bancshares by 0.3% in the 2nd quarter. First Republic Investment Management Inc. now owns 53,245 shares of the financial services provider’s stock worth $3,496,000 after purchasing an additional 138 shares in the last quarter. Cetera Advisors LLC lifted its stake in shares of Commerce Bancshares by 3.6% in the fourth quarter. Cetera Advisors LLC now owns 5,099 shares of the financial services provider’s stock valued at $347,000 after buying an additional 179 shares in the last quarter. Meritage Portfolio Management grew its holdings in shares of Commerce Bancshares by 0.6% during the second quarter. Meritage Portfolio Management now owns 35,411 shares of the financial services provider’s stock valued at $1,725,000 after buying an additional 219 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Commerce Bancshares by 0.5% during the second quarter. Treasurer of the State of North Carolina now owns 49,934 shares of the financial services provider’s stock worth $2,432,000 after acquiring an additional 230 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Commerce Bancshares by 1.1% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 23,906 shares of the financial services provider’s stock worth $1,147,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 69.63% of the company’s stock.

Commerce Bancshares Trading Down 1.8 %

Shares of Commerce Bancshares stock opened at $49.73 on Thursday. The firm has a market capitalization of $6.18 billion, a PE ratio of 12.53 and a beta of 0.76. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $46.99 and its 200 day moving average is $48.91. Commerce Bancshares has a 1 year low of $42.96 and a 1 year high of $72.60.

Commerce Bancshares (NASDAQ:CBSH) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Commerce Bancshares had a net margin of 26.71% and a return on equity of 19.12%. The firm had revenue of $391.50 million for the quarter, compared to analysts’ expectations of $391.77 million. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that Commerce Bancshares will post 3.79 earnings per share for the current fiscal year.

Commerce Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Monday, December 4th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, December 1st. This represents a $1.08 dividend on an annualized basis and a yield of 2.17%. Commerce Bancshares’s dividend payout ratio (DPR) is currently 27.20%.

About Commerce Bancshares

Commerce Bancshares, Inc operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth.